Triveni eyes JV with European power cos--INDIAN FIRM PLANS TO SPIN OFF TURBINE & GEARBOX DIVISION INTO SEPARATE FIRM

摘要

TRIVENI Engineering and Industries, the North-based engineering and sugar major, is in talks with two Europe-based power companies for a financial and technical tie-up for its power equipment business. Once the strategic partner is finalised, Triveni would spin off its turbine and high-speed gears and gearbox division into a separate company in which the partner would be inducted. The JV plan is in line with the company's plan to get into manufacturing of higher range of steam turbines up to 45 mw. Triveni currently manufactures steam turbines in the lower range of up to 27 mw. The names of the European companies could not be known, but sources said both are mid-sized companies. Sources said Triveni had completed preliminary rounds of negotiations with the -European majors, but it failed to make much progress after that because of differences over the holding pattern in the proposed JV.